Barclays PLC

BARC: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 611.00	Cqqz	Zpdlnnhs

Barclays Earnings: Management Raises Guidance for Net Interest Income

Niklas Kammer

Aug 1, 2024

Barclays reported good second-quarter results, with a return on tangible equity of 9.9%. Excluding the loss on the sale of its Italian mortgage book and German consumer finance business, returns would have been 11.8%. The investment bank performed well, with banking fees and underwriting as well as intermediation growing year on year 44% and 12%, respectively. We maintain our GBX 230 per share fair value estimate and no economic moat rating.

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